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Utsav, a spiritual and devotion platform has raised Rs 6.35 crore in a funding round led by Mumbai-based venture capital fund Equanimity Investments with participation from existing investor India Quotient.
The startup plans to use the funds to grow its operations in India and other countries, hire more staff and improve its technology.
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Ankita De, co-founder of Utsav, said, “We are exploring global expansion, aiming to cater to the growing demand for virtual pujas. NRIs outside India miss these rituals even more than we do. I think South India plays a very important role, as there are many temples in Madurai and Rameshwaram, which are major spiritual hubs. We will be tapping into these locations since they are currently missing from our platform, despite high demand for these temples."
“A lot of people are unable to travel, and to be honest, these geographies have limited real estate. The number of visitors cannot be unlimited, but that doesn’t mean those who cannot travel should miss out on the blessings. Hence, we are catering to that need,” she added.
“We plan to offer not just pujas and prasads, but also various merchandise. For example, if you want the jyotirlinga from Triyambakeshwar, the Shani yantra from Shani Shinganapur temple or a rudraksha mala, we could provide these for them," she said.
Rajesh Sehgal, managing partner at Equanimity Investments, said, “Utsav is revolutionising how people experience religious rituals, combining tradition with technology to make spiritual services more accessible.”
“The Indian religious and spirituality market is vast, with immense scope for innovation and growth. Utsav is well-positioned to tap into this opportunity by building trust and authenticity in the process,” said Madhukar Sinha, partner at India Quotient.
In June 2023, Utsav raised Rs 2 crore in a seed funding round from India Quotient.
About Utsav
Founded in 2021 by Ankita De, Sourajit Basu and Prajata Samanta, Utsav offers an online platform where users can book pujas, receive prasad at home and consult with priests. The platform currently gets about three lakh (300,000) visits each month.
It has partnered with over 60 temples in northern, eastern and western India and plans to expand to 100 temples in the next year. The company also aims to enter the South Indian market.
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